Question: On January 1, 2015, Goodbye Electronics Outlets adopted the conventional retail method of accounting for its merchandise inventory. Determine the companys ending inventory under the

On January 1, 2015, Goodbye Electronics Outlets adopted the conventional retail method of accounting for its merchandise inventory.

Determine the company€™s ending inventory under the conventional retail method. ( Round percentages to two decimal places.)

Cost Retail 45,730 $6 Inventory, 1/1/2015 Markdowns Additional markups Markdown cancellations Markup cancellations Net purchases Sales $68,000 17,850 28,500 6,500 3,500 90,000 195,500 155,500

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